How To Get The Best Auto And Renters Insurance Bundle (2024)

If you have a car and rent your home, chances are you’re going to need insurance policies for both. An auto and renters insurance bundle can be a good way to save and you’ll usually have the benefit of managing both policies from a single account.

What Is a Car and Renters Insurance Bundle?

A car and renters insurance bundle is when you purchase both policies from the same company. The advantage of bundling is you’ll typically get a multi-policy discount and you can manage both policies from the same account.

Bundling car and renters insurance isn’t always the best option. You could find cheaper rates overall by buying your car insurance and renters insurance as separate policies.

Which Companies Offer a Renters and Auto Insurance Bundle?

Most insurance companies that sell both auto insurance and renters insurance offer multi-policy discounts, such as:

• Allstate
• Amica
• Auto-Owners
• American Family
• Country Financial
• Elephant
• Erie
• Farmers
• Geico
• Lemonade
• Liberty Mutual
• Mercury
• Nationwide
• NJM
• Progressive
• Root
• Safeco
• State Farm
• Travelers
• USAA

How to Bundle Auto and Renters Insurance

If you’re looking to bundle auto and renters insurance, a good place to start is with your existing insurance policy. For instance, if you already have car insurance, you can reach out to your insurer and ask about a car insurance quote and discount for it with a renters insurance policy.

But you may have better options than sticking with your current insurer. Or you may be looking to buy new policies. Here’s how to bundle auto and renters insurance.

Determine How Much Coverage You Need

Even if you already have car and/or renters insurance, it’s a good idea to revisit your policies and check if you need to adjust your coverage. For example, if your assets have increased since you purchased your car insurance policy, you may want to increase your liability insurance.

• Car insurance. Most states require a minimum amount of car insurance, but the state minimum is usually inadequate. Here’s a guide to help you determine how much car insurance you need.
• Renters insurance. You’ll typically start with enough personal property coverage to cover your belongings, but you’ll also want to consider other coverage types like additional living expenses. Here’s a guide to determine how much renters insurance you need.

Information Required for Bundling Car and Renters Insurance

You’ll need to gather some information and documents before you can get car and renters insurance quotes. Here’s what you’ll need:

• Driver’s license. If there are any other drivers in your household, you’ll need their information as well.
• Vehicle identification number (VIN). You can usually find this printed on a sticker on the driver’s side door jamb or on the car’s driver’s side dashboard.
• Mileage. Have your current odometer reading handy.
• Where you live. Your insurer will need to know where you garage your car and where you keep your personal belongings.
• Estimated value of your personal belongings. If you’re not sure how much your stuff is worth, a home inventory is a great way to find out.
• Number of people who live in your home full time.

Compare Auto and Renters Insurance Quotes

Once you’ve figured out how much coverage you need and you gather the necessary information, compare auto and renters insurance quotes among several different companies. Check for both bundled and individual policies to see where you get the best deal. In some cases, it may be cheaper for you to buy separate policies.

You can get free car insurance and renters insurance quotes online, or speak with an independent agent who can help you find the best bunding deals.

Is Bundling Car and Renters Insurance Worth It?

Bundling car and renters insurance can work out in your favor, but it’s not necessarily the best option for everyone. Here are the pros and cons to help you figure out if bundling car and renters insurance is worth it.

Pros

• Multi-policy discount. When you bundle your car and renters insurance, you’ll usually qualify for a multi-policy discount.
• Manage both policies from a single account. You might prefer the simplicity of managing your insurance policies with one company rather than two. This can also help simplify the claims process if a problem like a windstorm affects both your car and your home.
• Single deductible. Your insurer may offer a single deductible if a single event applies to both policies. For example, if a thief broke into your car and stole your laptop, you’d have to file a claim on both insurance policies for the stolen property and damage to your car. Companies like Progressive will only apply one deductible for these types of claims.

Cons

• Not always the best way to save. Bundling your car and renters insurance might land you a discount, but you might find a better deal by buying each policy on its own. That’s why it’s so important to compare car and renters insurance quotes.
• It may not be convenient. If your car insurer partners with a different renters insurance company for a bundling discount, you may not be able to manage both policies from a single account.
• May not meet your coverage needs. It’s not a good fit if a company that bundles car and renters insurance doesn’t offer all the coverage types you need. For example, if you need rideshare insurance but choose to bundle your renters insurance with an auto insurer that doesn’t offer rideshare insurance, you’re creating an insurance gap that could result in a financial disaster.

Bundling Auto and Renters Insurance Frequently Asked Questions (FAQs)